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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.
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With the two groups selling a combined 38,771 vehicles in 2015, the acquisition creates one of the nation’s Top 50 dealer groups and the one of the largest dealer groups on the West Coast. The Tonkin name will remain on all of the group's 21 dealerships, and the brand will continue to grow and expand in the Portland area, officials said.
Read More →Autotrader today released its list of the Top 8 certified pre-owned programs for the holiday season. According to the company, these certified pre-owned vehicles offer consumers the reliability and safety of a new vehicle, but at a more affordable price.
Read More →Four associations representing 12,000 banks and credit unions have asked Senate leaders to consider replacing the Consumer Financial Protection Bureau’s single-director structure with a five-person bipartisan commission next year.
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Trever Enge, John Duplanty, Gus Jones and Maxine Vega will lead the Manheim Georgia, Manheim Tucson, Manheim Arizona and Manheim New Mexico locations, respectively, the company announced this week.
Read More →After two years of negotiation, Bomnin Chevrolet has acquired Grand Prize Chevrolet. The acquisition of the West Kendall, Fla.-based dealership expands Bomnin Chevrolet’s footprint in the Miami area, allowing the operation to offer service to customers in more than one location.
Read More →Wholesale used vehicle prices on a mix-, mileage-, and seasonally adjusted basis declined 1% in November, according to Manheim’s Used Vehicle Value Index report. Due to this decline, the Manheim Used Vehicle Value Index fell 0.3% from a year ago to 124.7.
Read More →The owners of Florida's Bonita Springs Mitsubishi have acquired Fort Myers Mitsubishi, the company announced today. With this purchase, owners Jeff Johnson and Bill Doraty hope to replicate the success of their Bonita Springs store, which cracked the Top 25 sales list for Mitsubishi dealerships nationwide.
Read More →The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.
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Automotive enthusiast magazine Car and Driver today unveiled its first ever “10Best Trucks and SUVs” list, recognizing 2017’s best trucks, SUVs, and crossover vehicles with base prices under $80,000.
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